Belfast Telegraph

Average price of house in Belfast rises to £127,700

By Staff Reporter

Belfast house prices have grown by 3.8% over the last year to reach an average of £127,700, according to research.

Hometrack, which monitors the movements of house prices in the UK's 20 biggest cities, said Manchester saw the steepest growth at 8.8% year-on year, reaching £151,800.

With growth of 3.8%, Belfast's rate of expansion was 16th in the list of the 20 biggest UK cities.

London was the most expensive city in which to buy a house, at £488,700 - a leap of 5.6%.

The Scottish city of Aberdeen was the only city to experience a fall in house prices, with its average now £181,600 - a decrease of 5.9%.

Richard Donnell, insight director at Hometrack, said the impact of Brexit was unclear.

He added: "In cities where affordability remains attractive, we expect demand to hold up in the short term albeit with slower growth in sales volumes. Overall we continue to expect the rate of house price growth to moderate over the rest of 2017."

Belfast Telegraph